The challenges of conducting effective pharmaceutical market research in emerging markets
Published in Quirk's Marketing Research Review, April 2016, By Marc Yates, Director of Emerging Markets
Emerging markets present an exciting opportunity for growth for the pharmaceutical industry, as traditional Western markets mature and there are a limited number of new products in the pipeline offering blockbuster revenues.
Some of the emerging markets, such as the BRIC nations of Brazil, Russia, India and China, are experiencing double-digit growth, as well as burgeoning public and private health care systems. A demographic of wealthy urban patients who can afford better-quality health care is on the rise, with an appetite for Western lifestyles and products.
To successfully launch in these markets, however, pharma manufacturers need an in-depth understanding of the environment in which they are planning to operate and this can be tricky as many lack reliable data intelligence. Custom market research can plug the gaps in knowledge and help marketers make more effective strategic decisions.
2012 PBIRG Winter Education Workshop
Bridgewater Marriott, Bridgewater NJ, USA February 27, 2012
Invited to give training on China at PBIRG Workshops
Marc Yates, Director of Emerging Markets, has been invited to host a training session at the PBIRG Winter Workshops and Industry Networking Reception in Bridgewater, NJ on 27th February 2012.
Marc's session, entitled "Predicting Behaviour in Urban China" seeks to demystify the complexities of the Chinese healthcare market and show how to conduct effective market research there.
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Living with diabetes carries a price in China
Published in Pharma Live February 2011 By Marc Yates, The Research Partnership Managing Director, Asia Pacific
A new research study carried out by global pharma specialists the Research Partnership offers insight into how patients in China manage life with type 2 diabetes. Following on from studies conducted in the US, UK and Germany, this survey reveals that for people in China life with diabetes carries a price - not just on their physical health but also on their wallet, their time and their overall enjoyment of life. Although patients in China are able to reimburse some of their healthcare costs, on average they spend 421 RMB (£40, US$64) per month on out-of-pocket expenses treating their condition and travelling to the hospital for treatment. They also spend almost 11 hours per month managing their illness. Insulin users will have to spend the most out-of-pocket, close to double that of OAD users. Given that the average earnings are reported to be about 4,500 RMB (£427, US$684)* per month in Tier 1 cities Beijing and Shanghai** and around 2,000 RMB (£190, US$304) per month in Tier 2 cities***, treating diabetes is a considerable expense, even for wealthy Chinese. Despite this, the survey found that only 1 in 5 patients will ask their doctors for less expensive treatments. Living with…